On June 25, 2016 during the official visit of Vladimir Putin, the President of Russia, to China a number of documents on the program of new wide-body long-haul passenger aircraft were signed.
In particular, an agreement on cooperation in the joint development, manufacturing, commercialization and after-sales support of the wide-body long-haul passenger aircraft was signed between the Russian Federation and the Government of the People's Republic of China.
Also during the visit, a contract on the establishment of a joint venture to implement the program was signed. On behalf of the United Aircraft Corporation (UAC) the contract was signed by its President Mr Yury Slyusar and on behalf of the Commercial Aircraft Corporation of China (COMAC) by the Chairman Mr Jin Zhuanglong.
The joint venture will be registered in the People's Republic of China on principles of parity.
The scope of activity of the joint venture implementing the wide-body long-haul passenger aircraft program envisages, inter alia, development, sales, after-sales support and consulting; investment and financing through the project.
The project of the wide-body long-haul aircraft being implemented by Russia and China can be developed as a family of the aircraft.
"The signature of these documents highlights further development and strengthening of relations between Russian and Chinese aircraft manufacturers. This event opens up new opportunities for creation of the wide-body aircraft - competitive and commercially successful in the global market,” said Yury Slyusar.